COALA IP is a blockchain-ready IP licensing protocol developed by the COALA IP working group to create an open, interoperable, and extensible standard for intellectual property rights management. The protocol aims to leverage existing technologies like blockchain and IPFS to create an auditable system for tracking IP ownership and licensing. It uses a directed graph data model with JSON objects linked via IPLD and Merkle trees to represent things like authors, creations, manifestations, licenses, and ownership transfers in a way that is blockchain-agnostic and can be queried across ledgers. The working group has published a whitepaper and is working on a reference implementation to establish COALA IP as a community-driven open standard.